List of Failed Banks, Updated April 9, 2010

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Last updated on April 9, 2010 Views: 547 Comments: 6

Over 100 banks failed in 2009. Most of these are smaller regional banks who, in order to compete with larger banks, offered risky loans and are now facing customer defaults. Larger banks were offered government bailouts to prevent failure, but these smaller banks whose failures are not seen as major risks to the economy are left without taxpayer assistance.

The FDIC covers savings accounts, checking accounts, and certificates of deposit to ensure that customers hardly notice when one of these smaller banks fail. As long as a bank is a member of FDIC, and most are, customers should be confident that even if a bank fails, they will be able to withdraw their deposits within the coverage limit. Predicting the increase of bank failures this year, the FDIC decided over a year ago to increase its insurance limits. In 2008, only 26 banks failed compared to over 100 in 2009.

Although there is often worry in the press that FDIC is underfunded and might run out of money, that situation is highly unlikely. The FDIC is requiring banks to start paying their FDIC premiums which have largely been ignored for decades to increase its available funds. The FDIC also has an extensive line of credit with the Treasury, and because Congress will always vote to make sure the FDIC will be able to cover necessary expenses, it is in effect a limitless credit line.

Here is a full list of banks that have failed since 2000. I will update this list as necessary.

Bank Location Failed Date
Beach First National Bank Myrtle Beach, SC April 9, 2010
Desert Hills Bank Phoenix, AZ March 26, 2010
Unity National Bank Cartersville, GA March 26, 2010
Key West Bank Key West, FL March 26, 2010
McIntosh Commercial Bank Carrollton, GA March 26, 2010
State Bank of Aurora Aurora, MN March 19, 2010
First Lowndes Bank Fort Deposit, AL March 19, 2010
Bank of Hiawassee Hiawassee, GA March 19, 2010
Appalachian Community Bank Ellijay, GA March 19, 2010
Advanta Bank Corp. Draper, UT March 19, 2010
Century Security Bank Duluth, GA March 19, 2010
American National Bank Parma, OH March 19, 2010
Statewide Bank Covington, LA March 12, 2010
Old Southern Bank Orlando, FL March 12, 2010
The Park Avenue Bank New York, NY March 12, 2010
LibertyPointe Bank New York, NY March 11, 2010
Centennial Bank Ogden, UT March 5, 2010
Waterfield Bank Germantown, MD March 5, 2010
Bank of Illinois Normal, IL March 5, 2010
Sun American Bank Boca Raton, FL March 5, 2010
Rainier Pacific Bank Tacoma, WA February 26, 2010
Carson River Community Bank Carson City, NV February 26, 2010
La Jolla Bank, FSB La Jolla, CA February 19, 2010
George Washington Savings Bank Orland Park, IL February 19, 2010
The La Coste National Bank La Coste, TX February 19, 2010
Marco Community Bank Marco Island, FL February 19, 2010
1st American State Bank of Minnesota Hancock, MN February 5, 2010
American Marine Bank Bainbridge Island, WA January 29, 2010
First Regional Bank Los Angeles, CA January 29, 2010
Community Bank and Trust Cornelia, GA January 29, 2010
Marshall Bank, N.A. Hallock, MN January 29, 2010
Florida Community Bank Immokalee, FL January 29, 2010
First National Bank of Georgia Carrollton, GA January 29, 2010
Columbia River Bank The Dalles, OR January 22, 2010
Evergreen Bank Seattle, WA January 22, 2010
Charter Bank Santa Fe, NM January 22, 2010
Bank of Leeton Leeton, MO January 22, 2010
Premier American Bank Miami, FL January 22, 2010
Barnes Banking Company Kaysville, UT January 15, 2010
St. Stephen State Bank St. Stephen, MN January 15, 2010
Town Community Bank & Trust Antioch, IL January 15, 2010
Horizon Bank Bellingham, WA January 8, 2010
First Federal Bank of California, F.S.B. Santa Monica, CA December 18, 2009
Imperial Capital Bank La Jolla, CA December 18, 2009
Independent Bankers’ Bank Springfield, IL December 18, 2009
New South Federal Savings Bank Irondale, AL December 18, 2009
Citizens State Bank New Baltimore, MI December 18, 2009
Peoples First Community Bank Panama City, FL December 18, 2009
RockBridge Commercial Bank Atlanta, GA December 18, 2009
SolutionsBank Overland Park, KS December 11, 2009
Valley Capital Bank, N.A. Mesa, AZ December 11, 2009
Republic Federal Bank, N.A. Miami, FL December 11, 2009
Greater Atlantic Bank Reston, VA December 4, 2009
Benchmark Bank Aurora, IL December 4, 2009
AmTrust Bank Cleveland, OH December 4, 2009
The Tattnall Bank Reidsville, GA December 4, 2009
First Security National Bank Norcross, GA December 4, 2009
The Buckhead Community Bank Atlanta, GA December 4, 2009
Commerce Bank of Southwest Florida Fort Myers, FL November 20, 2009
Pacific Coast National Bank San Clemente, CA November 13, 2009
Orion Bank Naples, FL November 13, 2009
Century Bank, F.S.B. Sarasota, FL November 13, 2009
United Commercial Bank San Francisco, CA November 6, 2009
Gateway Bank of St. Louis St. Louis, MO November 6, 2009
Prosperan Bank Oakdale, MN November 6, 2009
Home Federal Savings Bank Detroit, MI November 6, 2009
United Security Bank Sparta, GA November 6, 2009
North Houston Bank Houston, TX October 30, 2009
Madisonville State Bank Madisonville, TX October 30, 2009
Citizens National Bank Teague, TX October 30, 2009
Park National Bank Chicago, IL October 30, 2009
Pacific National Bank San Francisco, CA October 30, 2009
California National Bank Los Angeles, CA October 30, 2009
San Diego National Bank San Diego, CA October 30, 2009
Community Bank of Lemont Lemont, IL October 30, 2009
Bank USA, N.A. Phoenix, AZ October 30, 2009
First DuPage Bank Westmont, IL October 23, 2009
Riverview Community Bank Otsego, MN October 23, 2009
Bank of Elmwood Racine, WI October 23, 2009
Flagship National Bank Bradenton, FL October 23, 2009
Hillcrest Bank Florida Naples, FL October 23, 2009
American United Bank Lawrenceville, GA October 23, 2009
Partners Bank Naples, FL October 23, 2009
San Joaquin Bank Bakersfield, CA October 16, 2009
Southern Colorado National Bank Pueblo, CO October 2, 2009
Jennings State Bank Spring Grove, MN October 2, 2009
Warren Bank Warren, MI October 2, 2009
Georgian Bank Atlanta, GA September 25, 2009
Irwin Union Bank, F.S.B. Louisville, KY September 18, 2009
Irwin Union Bank and Trust Company Columbus, IN September 18, 2009
Venture Bank Lacey, WA September 11, 2009
Brickwell Community Bank Woodbury, MN September 11, 2009
Corus Bank, N.A. Chicago, IL September 11, 2009
First State Bank Flagstaff, AZ September 4, 2009
Platinum Community Bank Rolling Meadows, IL September 4, 2009
Vantus Bank Sioux City, IA September 4, 2009
InBank Oak Forest, IL September 4, 2009
First Bank of Kansas City Kansas City, MO September 4, 2009
Affinity Bank Ventura, CA August 28, 2009
Mainstreet Bank Forest Lake, MN August 28, 2009
Bradford Bank Baltimore, MD August 28, 2009
Guaranty Bank Austin, TX August 21, 2009
CapitalSouth Bank Birmingham, AL August 21, 2009
First Coweta Bank Newnan, GA August 21, 2009
ebank Atlanta, GA August 21, 2009
Community Bank of Nevada Las Vegas, NV August 14, 2009
Community Bank of Arizona Phoenix, AZ August 14, 2009
Union Bank, National Association Gilbert, AZ August 14, 2009
Colonial Bank Montgomery, AL August 14, 2009
Dwelling House Savings and Loan Association Pittsburgh, PA August 14, 2009
Community First Bank Prineville, OR August 7, 2009
Community National Bank of Sarasota County Venice, FL August 7, 2009
First State Bank Sarasota, FL August 7, 2009
Mutual Bank Harvey, IL July 31, 2009
First BankAmericano Elizabeth, NJ July 31, 2009
Peoples Community Bank West Chester, OH July 31, 2009
Integrity Bank Jupiter, FL July 31, 2009
First State Bank of Altus Altus, OK July 31, 2009
Security Bank of Jones County Gray, GA July 24, 2009
Security Bank of Houston County Perry, GA July 24, 2009
Security Bank of Bibb County Macon, GA July 24, 2009
Security Bank of North Metro Woodstock, GA July 24, 2009
Security Bank of North Fulton Alpharetta, GA July 24, 2009
Security Bank of Gwinnett County Suwanee, GA July 24, 2009
Waterford Village Bank Williamsville, NY July 24, 2009
Temecula Valley Bank Temecula, CA July 17, 2009
Vineyard Bank Rancho Cucamonga, CA July 17, 2009
BankFirst Sioux Falls, SD July 17, 2009
First Piedmont Bank Winder, GA July 17, 2009
Bank of Wyoming Thermopolis, WY July 10, 2009
Founders Bank Worth, IL July 2, 2009
Millennium State Bank of Texas Dallas, TX July 2, 2009
First National Bank of Danville Danville, IL July 2, 2009
Elizabeth State Bank Elizabeth, IL July 2, 2009
Rock River Bank Oregon, IL July 2, 2009
First State Bank of Winchester Winchester, IL July 2, 2009
John Warner Bank Clinton, IL July 2, 2009
Mirae Bank Los Angeles, CA June 26, 2009
MetroPacific Bank Irvine, CA June 26, 2009
Horizon Bank Pine City, MN June 26, 2009
Neighborhood Community Bank Newnan, GA June 26, 2009
Community Bank of West Georgia Villa Rica, GA June 26, 2009
First National Bank of Anthony Anthony, KS June 19, 2009
Cooperative Bank Wilmington, NC June 19, 2009
Southern Community Bank Fayetteville, GA June 19, 2009
Bank of Lincolnwood Lincolnwood, IL June 5, 2009
Citizens National Bank Macomb, IL May 22, 2009
Strategic Capital Bank Champaign, IL May 22, 2009
BankUnited, FSB Coral Gables, FL May 21, 2009
Westsound Bank Bremerton, WA May 8, 2009
America West Bank Layton, UT May 1, 2009
Citizens Community Bank Ridgewood, NJ May 1, 2009
Silverton Bank, NA Atlanta, GA May 1, 2009
First Bank of Idaho Ketchum, ID April 24, 2009
First Bank of Beverly Hills Calabasas, CA April 24, 2009
Michigan Heritage Bank Farmington Hills, MI April 24, 2009
American Southern Bank Kennesaw, GA April 24, 2009
Great Basin Bank of Nevada Elko, NV April 17, 2009
American Sterling Bank Sugar Creek, MO April 17, 2009
New Frontier Bank Greeley, CO April 10, 2009
Cape Fear Bank Wilmington, NC April 10, 2009
Omni National Bank Atlanta, GA March 27, 2009
TeamBank, NA Paola, KS March 20, 2009
Colorado National Bank Colorado Springs, CO March 20, 2009
FirstCity Bank Stockbridge, GA March 20, 2009
Freedom Bank of Georgia Commerce, GA March 6, 2009
Security Savings Bank Henderson, NV February 27, 2009
Heritage Community Bank Glenwood, IL February 27, 2009
Silver Falls Bank Silverton, OR February 20, 2009
Pinnacle Bank of Oregon Beaverton, OR February 13, 2009
Corn Belt Bank & Trust Co. Pittsfield, IL February 13, 2009
Riverside Bank of the Gulf Coast Cape Coral, FL February 13, 2009
Sherman County Bank Loup City, NE February 13, 2009
County Bank Merced, CA February 6, 2009
Alliance Bank Culver City, CA February 6, 2009
FirstBank Financial Services McDonough, GA February 6, 2009
Ocala National Bank Ocala, FL January 30, 2009
Suburban FSB Crofton, MD January 30, 2009
MagnetBank Salt Lake City, UT January 30, 2009
1st Centennial Bank Redlands, CA January 23, 2009
Bank of Clark County Vancouver, WA January 16, 2009
National Bank of Commerce Berkeley, IL January 16, 2009
Sanderson State Bank Sanderson, TX December 12, 2008
Haven Trust Bank Duluth, GA December 12, 2008
First Georgia Community Bank Jackson, GA December 5, 2008
PFF Bank & Trust Pomona, CA November 21, 2008
Downey Savings & Loan Newport Beach, CA November 21, 2008
Community Bank Loganville, GA November 21, 2008
Security Pacific Bank Los Angeles, CA November 7, 2008
Franklin Bank, SSB Houston, TX November 7, 2008
Freedom Bank Bradenton, FL October 31, 2008
Alpha Bank & Trust Alpharetta, GA October 24, 2008
Meridian Bank Eldred, IL October 10, 2008
Main Street Bank Northville, MI October 10, 2008
Washington Mutual Bank (and FSB) Henderson, NV September 25, 2008
Ameribank Northfork, WV September 19, 2008
Silver State Bank Henderson, NV September 5, 2008
Integrity Bank Alpharetta, GA August 29, 2008
Columbian Bank & Trust Topeka, KS August 22, 2008
First Priority Bank Bradenton, FL August 1, 2008
First Heritage Bank, NA Newport Beach, CA July 25, 2008
First National Bank of Nevada Reno, NV July 25, 2008
IndyMac Bank Pasadena, CA July 11, 2008
First Integrity Bank, NA Staples, MN May 30, 2008
ANB Financial, NA Bentonville, AR May 9, 2008
Hume Bank Hume, MO March 7, 2008
Douglass National Bank Kansas City, MO January 25, 2008
Miami Valley Bank Lakeview, OH October 4, 2007
NetBank Alpharetta, GA September 28, 2007
Metropolitan Savings Bank Pittsburgh, PA February 2, 2007
Bank of Ephraim Ephraim, UT June 25, 2004
Reliance Bank White Plains, NY March 19, 2004
Guaranty National Bank Tallahassee, FL March 12, 2004
Dollar Savings Bank Newark, NJ February 14, 2004
Pulaski Savings Bank Philadelphia, PA November 14, 2003
First National Bank of Blanchardville Blanchardville, WI May 9, 2003
Southern Pacific Bank Torrance, CA February 7, 2003
Farmers Bank of Cheneyville Cheneyville, LA December 17, 2002
Bank of Alamo Alamo, TN November 8, 2002
AmTrade International Bank Atlanta, GA September 30, 2002
Universal Federal Savings Bank Chicago, IL June 27, 2002
Connecticut Bank of Commerce Stamford, CT June 26, 2002
New Century Bank Shelby Township, MI March 28, 2002
Net 1st National Bank Boca Raton, FL March 1, 2002
NextBank, NA Phoenix, AZ February 7, 2002
Oakwood Deposit Bank Co. Oakwood, OH February 1, 2002
Bank of Sierra Blanca Sierra Blanca, TX January 18, 2002
Hamilton Bank, NA Miami, FL January 11, 2002
Sinclair National Bank Gravette, AR September 7, 2001
Superior Bank, FSB Hinsdale, IL July 27, 2001
Malta National Bank Malta, OH May 3, 2001
First Alliance Bank & Trust Co. Manchester, NH February 2, 2001
National State Bank of Metropolis Metropolis, IL December 14, 2000
Bank of Honolulu Honolulu, HI October 13, 2000

Article comments

Anonymous says:

One thing to keep in mind is that there are about 8000 banks in the country. So 100 banks represents a tad over 1% failure rate. Look at it that way and it helps keep it in perspective.

Anonymous says:

Unfortunately, banks in my state (Georgia) have been hit particularly hard with bank failures.

Anonymous says:

I am unemployed and looking for Merchant Service Department, Admistrative Support. Know any one in the banking industry.

Anonymous says:

I think you are right about not worrying too much about the FDIC running out of money. I don’t like when people say things like limitless though. Somebody has to fund that line of credit if they ever have to use it. Last I checked the US tax payers were already funding the banks, the auto industry, and the real estate industry in other forms so it would kind of hurt if we had to start funding the FDIC too.

Luke Landes says:

It’s limitless because the government will just “print more money” if needed… increase the money supply. The FDIC will be the last thing the government will let fail, it’s the last sign of faith. The banking system can only operate with public faith in the government to supply money, and that faith is only as strong as the solvency of the FDIC.

Anonymous says:

I slightly disagree with you on this. yes they can print more money…but the more money that is printed, the less $1 value is. Look at the Euro. One euro is equivalent to $2.64. Which is nuts.

So yes, it is limitless, but the price of goods might get jacked up for us.